09272016Tue
Last update: Tue, 27 Sep 2016 06pm

Asia

Markets - Commodities - Asia

TOCOM hits 1-1/2-mth low as exports target cut disappoints market TOKYO: Benchmark Tokyo rubber futures fell to a 1-1/2-month low on Thursday, extending losses into a fourth straight session, pressured by sliding oil prices and disappointing target of export cuts set by Asia's top three producing countries.Oil prices tumbled on Wednesday, with U.S. crude settling about 3 percent lower, after an unexpectedly large inventory build in the world's biggest oil consumer renewed worries about oversupply.The International Tripartite Rubber Council (ITRC), a grouping of Indonesia, Thailand and Malaysia, will trim exports by an additional 85,000 tonnes from September to December this year, an Indonesian rubber industry official said on Thursday."In the original commitment, ITRC and its strategic partner, Vietnam, would cut exports by 700,000 tonnes. The allocation for the three countries was 615,000 tonnes and Vietnam 85,000 tonnes. But for some reason that couldn't be carried out, so ITRC will cut the full 700,000 tonnes up to December," Indonesian Rubber Association ...

Markets - Commodities - Asia

Palm in line for weekly decline, tracking weaker oils KUALA LUMPUR: Malaysian palm oil futures recorded their first session of declines in three on Thursday, weighed down by weaker related vegetable oils, despite strong cargo surveyor export data for August.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange fell 1.5 percent to 2,561 ringgit ($639) per tonne at the close of trade, its sharpest drop since August 18.Palm is in line for its first week of losses after seeing gains for ...

Markets - Commodities - Asia

Soybeans fall for 3rd day, US crop tour finds impressive yields SINGAPORE: Chicago soybean futures slid for a third consecutive session on Thursday to their lowest since mid-August, coming under pressure as a widely watched crop tour reported bumper crop prospects across the US Midwest.Corn dropped for a fourth session in a row, although losses were limited by strong demand, while wheat rose from a one-week low touched on Wednesday.The Chicago Board of Trade most-active soybean contract was down 0.7 percent at $9.98-1/4 by 1105 GMT, ...

Markets - Commodities - Asia

Dalian iron ore drops from two-year high on China liquidity concerns MANILA: Iron ore futures in China tumbled nearly 5 percent on Thursday, down from a two-year high in the previous session, as investors spurned higher risk commodity assets after the government took steps to manage liquidity in the country.Worries that China may no longer be keen on easing monetary policy as it heads off signs of growing risks in its financial and banking system dampened sentiment toward commodities and equities, traders said.China took aggressive steps ...

Markets - Commodities - Asia

Palm in line for weekly decline tracking weaker rival oils KUALA LUMPUR: Malaysian palm oil futures were in line for their first session of declines in three on Thursday morning, weighed down by weaker related vegetable oils, despite strong cargo surveyor export data for August.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange fell 1.5 percent to 2,560 ringgit ($635) per tonne at the midday break, its sharpest drop since August 18.Palm is in line for its first week of losses after ...

Markets - Commodities - Asia

Bangladesh tea prices rise for fourth straight week  DHAKA: Tea prices in Bangladesh rose for a fourth straight week at the weekly auction on Tuesday, on strong demand for quality leaf amid lower supplies.Bangladesh tea fetched an average of 229.48 taka ($2.8) per kg at the auction, the 17th of the new marketing season, compared with 225.69 taka in the previous sale.There was robust demand for quality tea and buyers were ready to pay premiums which helped prices rise, while supplies were lower ...

Markets - Commodities - Asia

TOCOM hits near three-week low on softer oil prices TOKYO: Benchmark Tokyo rubber futures ended slightly lower on Wednesday, after hitting a near three-week low earlier in the session, pressured by softer oil prices, but trades were thin with many investors staying reluctant to take bets amid low volatility."Trade remained lacklustre even though Japan's traditional Obon holiday ended last week," said a Tokyo-based dealer."There were no major reasons to sell, but a rumour that shipment in Thailand is on the rise partly weighed on ...